At the same time Florida
State University is warning students to avoid the "Credit Card Monster" (see video below) the university is funneling their names and addresses to credit
card giant Bank of America. The bank then uses that information to market
credit cards to those very same students, as part of an "exclusive" deal
allowing the bank to use FSU's official colors and symbols.

Consumer Warning Network obtained a copy of the contract
between the Seminole Boosters, FSU's athletic fund raising arm, and Bank of America.
The deal, which FSU endorsed in a side letter, was supposed to remain
confidential.

Under the secret terms of
the agreement, FSU pockets a piece of every dollar charged by students and
alumni, with a guarantee of more than $10 million over 7 years. That money goes
directly to the private Seminole Boosters which among other things helps pay
the multi-million dollar salaries of coaches like Bobby Bowden.

The card marketed to
students by Bank of America has less favorable terms, like
higher interest rates, than its non-student credit cards. MORE